[Key interpretation] BTC financing interest rate hit a new low, with the bottom looking below 14000 dollars

Huobi发布于2022-11-11更新于2022-11-14

文章摘要

The BTC financing interest rate has reached a new low, and the adjustment is in progress.

1. BTC is on the verge of breaking

Although the BTC price has dropped significantly recently, reaching the lowest point of 15588 US dollars, the typical support may appear at a lower point. From the price performance since 2019, BTC may test the support effect of the highest US $13970 on June 24, 2019. Or, BTC may seek support from the corresponding US $12000 in September 2020. At present, during the BTC volume shock, the price trend still has great potential for fluctuation, so we can focus on the bottoming process.

2. Low BTC financing interest rate

The selling pressure of BTC has increased significantly recently. Judging from the performance of the financing interest rate, it has shown that investors are willing to sell down strongly. Numerically, the BTC financing interest rate since January 9 has been maintained at -0.03, -0.116 and -0.085. This shows that the financing interest rate of BTC has not returned to the normal level in the short term. Therefore, we can continue to pay attention to the downward withdrawal space of BTC and reduce the funds to copy the bottom in order to deal with price shocks.

3. The number of BTC receiving addresses rebounded strongly

As the number of BTC receiving addresses rises rapidly, it indicates that investors will receive a large number of BTCs sold in the short term. Numerically, the number of BTC receiving addresses rebounded to a peak level of 766000 in November, which is near the highest in the past year. Therefore, at least from the perspective of panic trading, more investors are bargain hunting BTC. It has to be said that BTC price is currently lower than 18000 US dollars, which has attracted more traders to enter the market to seize funds.

4. ETH financing interest rate also fell

Different from BTC, ETH's recent financing interest rate has been significantly withdrawn, which is the second time in the year. Different from the middle of September in the previous period, the lowest financing interest rate reached around -0.062, much lower than the -0.199 on September 15. Recently, ETH is still being sold by investors rapidly, and the financing interest rate is again low, indicating that the price of ETH continues to be oversold.

5. LTC massive rebound

With the enlargement of trading volume, LTC rose in a large scale during the rebound that began on November 2. Despite the recent correction, the trading volume did not shrink. The short-term growth is relatively large, with the largest increase of LTC in three trading days reaching 34%, indicating that the bottom of LTC is getting closer. After the LTC short-term release is completed, it is easier to confirm the bottom signal by normalizing.

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